Statement of financial position items for Montoya Inc. follow for the current year, 2014:

Instructions
(a) Prepare a classified statement of financial position in good form. The numbers of authorized shares are as follows: 400,000 common and 20,000 preferred. Assume that income tax accounts, notes receivable and notes payable are short-term, unless stated otherwise, and that the fair value- net income investments are stated at fair value.
(b) What additional disclosures would you expect to provide for the rental obligation?